Friday Finance 6/16/2023: Setting up Camp

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It's a bit later start that @mrsbozz and I are used to, but we finally made it on our first camping trip of the summer. Typically, we are on the road starting with the US holiday of Memorial Day. The past couple of years we have had some prior engagements that have kept that from happening.

Last year my oldest niece graduated from high school and this year we had a big concert in Ohio that we attended.

@mrsbozz and I have been running ragged this past week making sure everything is set with our travel trailer that we can have an enjoyable time on our trip. At the very least, we get to hang out with some good friends, so that should be fun!

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It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.

It's been really easy lately to be dragged down by the FUD. There is plenty of it out there. Just when you think things have died down or things are about to turn, we are blindsided by something new.

I was pretty excited the other day when they announced the bill that is being presented to remove Gary Gensler and reorganize the SEC. I thought that might be a catalyst towards new growth in the crypto sector.

As @taskmaster4450 pointed out though, the bill is likely dead on arrival. Even if one branch of govrment approves it, the other branch will likely not, and ultimately, The President will veto the bill. It seems it isn't as exciting as I had hoped.

Then we have the fact that the FED decided to stop the rate hikes yesterday. You may have thought that would give us a boost. It appears not. I woke up this morning to find that BTC had fallen below the $25K mark and is currently sitting at $24,963.

The good thing about this is the fact that it also brought down the price of Hive to that $.26 or $.27 level. I was able to swap some HBD into Hive at a really good price. I should be well on my way to powering up another 1000 HP at the beginning of next month.

EOS

I know a lot of people gave up on EOS a long time ago or never jumped on the bandwagon in the first place. Despite the issues with the EOS chain, the underlying software is pretty sound. It's a matter of governance and what is actually being built on the chain. Up to this point, it has been underwhelming.

So much so that EOS Sweden has announced their departure from the chain as a block producer. They still plan on participating in the more successful derivitives of EOS like WAX and TELOS (I think), but as for EOS, they are done waiting.

Personally, I bought EOS at one of the tops, so I am just holding on until it hits that level again or goes to zero. I've never been a fan of selling for a loss and I don't intend to start with EOS.

Getting Out

No, not out of crypto, but I am looking forward to getting out and about this summer. The past winter has been a bit unforgiving (both for crypto and the weather). I'm really excited about spending some time out in nature and gathering new material for future posts.

Sometimes you need to just take a step back and appreciate how far you have come. You know they often say things get worse before they get better and I hope that is the case with crypto. I can't imagine it a ton worse than it is right now, but time will tell...

I apologize, this post was less about finance and more about me randomly rambling, but honestly, there isn't much new from last week. The SEC is still being stupid, things are still down or moving sideways. All we can do is just keep putting one foot in front of the other.